A fast food complex located Sydney suburb, Bonnyrigg , was sold to a local investor for US$1.8 million including a initial net yield of 10 percent.

The complex totals 401 square meters over three fast food tenancies and is located at 749-751 Smithfield Road. CB Richard Ellis' Harry Bui and Frank Oliveri steered the auction campaign on behalf of Fraset Holdings Pty Ltd.

Bui said the fully leased offering attracted good investors' interest. "The property is currently generating a net income of approximately US$180,000 and is 100 percent leased to quality tenants including Subway and Crust Pizza, with a good WALE by income of 5 years," he said.

Oliveri cited location as an additional benefit for the incoming owner. "The property is located on a busy corner site adjoining a McDonalds and Caltex service station in Sydney's south west growth corridor," he said.

Bonnyrigg is located within the local government area of the city of Fairfield, approximately 36 kilometers from downtown Sydney.

According to APM, houses in Bonnyrigg are priced at an average of US$401,000. The town is considered part of the Greater Western Sydney region. Its center is currently being developed for a new housing development that build 2,330 new houses and increase its population increase by more than 3,000 by 2022.

The suburb is laid out in a diamond shape with the suburbs of Mount Pritchard and Cabramatta West nearby.